The Series 66 experts at Knopman Marks Financial Training recommend that you plan on 75-100 hours of prep time before your test. You should assume you'll need about 4-8 weeks of prep time if you're working full time.
What is the hardest series exam?
The Series 7 exam is by far the longest and most difficult of all the securities exams. It lasts for 225 minutes and covers all aspects of stock and bond quotes and trading; put and call options; spreads and straddles; ethics; margin, and other account holder requirements; and other pertinent regulations.
Is the Series 66 exam hard?
Overall, the Series 66 difficulty level is a step up from the SIE Exam difficulty , but it can be easily accomplished with a disciplined approach. Take your time, but more importantly, put the time in. Series 66 endurance is often more important intellect. Keep focused and in a routine and you'll do great!
What is the passing score for Series 66?
Candidates have 150 minutes to complete the exam. In order for a candidate to pass the Series 66 Exam, he/she must correctly answer at least 73 of the 100 scored questions . There is no prerequisite for the Series 66 examination.
What does the Series 66 exam allow you to do?
The Series 66 is an exam and license that is meant to qualify individuals as investment advisor representatives or securities agents . The Series 66, also known as the Uniform Combined State Law Examination, covers topics relevant to providing investment advice and effecting securities transactions for clients.
What percentage of people pass the Series 66 on the first try?
Not only that, but you will be familiar with how other FINRA exams are tested. If you have to take the Series 65 or 63 exam, you will also see serious overlap in both of those with the Series 66 exam. In a nutshell, our best estimate is that the pass rate is somewhere around 60-70% .
Should I take Series 7 or 66 first?
Should I take the series 7 or 66 exam first? While you may take either exam first, we strongly recommend that you start with this Series 7 Exam . The Series 7 Exam is a much bigger test and will require significantly more study time.
Is the Series 7 harder than the bar?
The Series 7, after all, is the notorious Wall Street rite of passage, the exam all potential stockbrokers have to pass before being licensed by the NASD. Brokers brag that the Series 7 is harder to pass than the bar exam in some states .
What happens if you fail the Series 66?
As with any securities exam, if you fail the Series 66 on your first attempt, you are allowed two more retakes, waiting 30 days between exam dates . If you fail on the third attempt, you can retake the exam after a 180-day waiting period.
How long is Series 7 GOOD FOR?
The Series 7 license is good for the entire period that you work for a FINRA-member firm or self-regulatory organization (SRO). It only expires if you are terminated or leave a firm and do not find employment within two years at another FINRA-member firm or SRO.
What is the difference between Series 7 and 66?
The Series 66 license is only valid with a Series 7 designation. The Series 66 exam contains topics covered in the Series 63 and Series 65 exams without duplication of the Series 7. Generally, for those persons with the Series 7 license, the Series 66 exam is easier to pass than the Series 65.
Is Series 65 or 66 Harder?
Is It Harder to Pass the Series 65 or Series 66 Exams? While the pass/fail rate for these exams is not publicly available, many consider the Series 66 exam more difficult than the Series 65 because it is longer. The Series 65 contains 130 questions and the Series 66 has only 100.
How do I prepare for Series 66?
- Do yourself a favor and study. Do not walk in unprepared. ...
- Take care of yourself. Make sure you're eating well, exercising, and sleeping. ...
- Get a study guide or set of flashcards. Some people study better a certain way.
Does Series 66 require sponsorship?
Do I need to have a sponsor before I take the Series 63, 65, or 66? No. Unsponsored candidates who are not Form U4 registered or currently affiliated with a firm through FINRA's Web CRD system should open an exam enrollment window via FINRA.org request and pay for the S63, S65, or S66 exams.
How much does the Series 66 cost?
| Duration Cost | Series 63 – Uniform Securities Agent State Law Exam 1 hour and 15 minutes $147 | Series 65 – Uniform Investment Adviser Law Exam 3 hours $187 | Series 66 – Uniform Combined State Law Exam 2 hours and 30 minutes $177 |
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What is a Series 7 & 63 licenses?
The Series 7 and Series 63 licenses are the basic broker licenses , although the Series 63 license is state-specific.
